Federal Reserve Vice Chair Philip Jefferson has indicated that the U.S. central bank could consider raising interest rates if inflation fails to show sustained improvement in the near term, while maintaining that the current policy stance remains appropriate for now, according to Reuters.
Speaking ahead of the Federal Reserve's July 28-29 policy meeting, Jefferson said keeping interest rates unchanged should continue supporting the labor market while allowing inflation to move back toward the Fed's 2% target as the effects of past tariffs and higher energy prices gradually fade, as per a Reuters report.
